Los Angeles daily herald., 1887-09-11
THE EXCHANGE.
An Auspicious Opening
Last Evening.
SEyERAL SPIRITED SPEECHES
The Real Estate and Stock Elk
change Now Under Full
Headway.

change took place last evening at Ar
mory Hall on Main street. The plac'
was crowded with people, many ladies
being noticed among tho audience
The opening address was made b.
the President, as follows:
ADDRESS By II. C. ROLLINS.
Gentlemen of the Los Aageles ReGl Is
tate aad Stock EGckange:
In a country like ours, where wealtl
increases three times faster than pop
ulation, where machinery has in
creased the productive power OF labor
two and one-half times within twenty
wears; where the people are twenty
million dollars richer each Saturday
night than they were upon Monday
morning; where the labor OF one man
now is equal to that OF three OF the
DAYS of our boyhood, and where the
basis OF all this vast increase in value
is the property in realty and the ap-
pliances made by inventive genius
thereto, the instituting of an organiza-
ton with reference to the traffic in
real estate-the foundation OF all prop
erty values-is an important event,
well worthy OF careful consideration,
and demanding cautions and thought
full procedure.
This is particularly the case in a
section of country like our own, where,
added to the inherent worth OF the
real property, are two elements OF
value which can hardly be found in
any other part of our common country
outside of the great state OF California.
mean the great variety of the pro-
duction OF the soil and the marvellous
salubrity of the climate.
The productions OF the great north
east, aside from manufactured arti-
cles, are granite, fish and ice. The
productions of the great northwest,
not including California in this state
ment are lumber. cattle and grain.
The productions of the south are cot
ton and sugar. Here we grow every
thing necessary to the subsistence and
comfort OF man. Here the farmer,
the steward of the world, lives in ease
and luxury, with no cold winter to
provide for and no hot summer max
ing labor almost an impossibility. A
country thus situated must necessarily
attract toit the men of leisure and the
man of necessity. The man who
wishes to spend his day in ease and
comfort and the man who wishes to
leave to his children an inheritance
better than he himself enjoyed.
Let no conceited real estate broker
think that he has caused the great in
crease in the value of land in Southern
California by the booming of city cor
ner lots, for it was caused by God,
who gave the earth to man for his in
heritance and the creature naturally
seeking the best place the Creator has
made for him.
For climate and productive reasons
alone, aside from commercial advan-
tages, this must necessarily be great
country and the city OF Los Angeles,
its trading and commercial center.
Realizing, knowing and feeling this,
a number of gentlemen have organ
lied themselves into Real
Estate and Stock Exchange for the
purpose OF honorably directing, as far
as they can, the transactions in real
property and stock securities.
They claim no more knowledge OF
the traffic in or value of city lots, acre
property or the stock of incorporated
companies than others engaged in the
same business; but they feel that by
organization they will ocquire addi-
tional strength, and they hope that
transactions in stocks and real prop
erty may be largely facilitated and
somewhat regulated by their organ
ization.
They wish to antagonize no one,
and their paramount desire is, by
honorable and straightforward deal
ing, to make their organization a
power, wisely and prudently man.
aged, which shall command the re-
spect of the community and become a
source of benefit and satisfaction to
both the buyer and seller.
We know full well that our organi-
zation is very imperfect. We know
that there is vast deal of grand ma
terial we would like to have within it,
but we feel that our efforts are well
directed, that our motives are high
and honorable, and that we have the
energy and the skill to make the Los
Angeles Real Estate and Stock Ex-
change worthy OF the city and worthy
of ourselves.
Maintaining our own self-respect
and demanding recognition by worthy
characters, We now, gentlemen, by
your kind permission, declare this
Exchange formally opened.
Then followed an address by DR..
Baker as follows:
ADDRESS BY DIR. E. T. BARBER.
Mr.. President, Members of the E.r-
change, Ladies and Gentlemen:
We have all seen the sun rise in the
East in his strength and throw his
rays of dazzling light into even the
darkest places, and by the effulgence
of his glory dissipate night and COM
pletely quench the light of the moon
and the stars. So, tonight, we have
listened to an address by the Presi.
dent of this Exchange which will pale
anything [ may or can say as the
sun does the moon in the heavens
and, knowing this, can assure yor
that only deep feeling OF loyalty tc
this corporate body, and the expressed
wish of many of its members, coulC
induce me to follow so able speaker
or to say word even on this mos
auspicious occasion. Our President
like an able general among men, ha
grasped the situation and covered tn,
ground so thoroughly that there is bu
little new to be said. His astute mine
has at once considered the Who'll,
field of Southern California, and ha
discerned that in trade, just as il
war, there is strength in union, powe
in concentration, speed in system
and safety in obedience TO just law
and that the buyer can be protected
against the petty deceits and tricks o
unscrupulous sellers, and the business
of dealing in real estate and othel
securities can be made SO just ant
legitimate as to be recognized as bu
name for honor
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